Argos credit card shocker

ralph_wilson

I found a disturbing article in my (free) edition of Moneywise, August page 6 'Heroes & Villains'. The Argos store card is 233% APR or higher. Someone borrowing £200 over 32 weeks would pay interest at 399.7% - a total of £320.
This card (according to the article) is being promoted to people on benefits!

trets77

store card i assume.

as long as there are vunerable people there will be the likes of YES car credit ect to exploit them.

dauphin

I read about this in "Which" magazine the other day. Seems this card is nothing to do with Argos stores, which have their own store card charging a more normal (if still high) 25.9% APR. Argos stores were quoted as saying, in relation to the card mentioned by the OP: "Argos is not involved in managing the card, marketing or promoting it." I should imagine they would try to get it banned if people are being taken in by the use of the Argos name.

rh41

the card is actually issued by provident the company behind vanquis.